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More signs point to more favorable housing costs this week as average mortgage rates continued to fall, following an aggressive half a point cut to interest rates announced by the Federal Reserve on Wednesday. The 30-year fixed-rate mortgage (FRM) averaged 6.09% this week, down from 6.20% last week, according to the latest Primary Mortgage Market…
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New York’s OneKey® MLS reported significant trends in August 2024 reflecting a resilient housing market with higher-value transactions. The multiple listing service, which services Montauk to Manhattan and through the Hudson Valley to the Catskill Mountains, reported in August, the regional single-family closed median sale price was $725,000, marking an 8.4% year-over-year increase from $669,000…
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Harry Norman, REALTORS®—a member of Leading Real Estate Companies of the World®—has announced the appointment of Stan Baker as the new vice president of Relocation and Business Development. With over 30 years’ experience expanding business and operational efficiencies, Baker brings a wealth of knowledge and a proven track record of success to the Harry Norman,…
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The Conference Board Leading Economic Index (LEI) for the U.S., which provides an early indication of significant turning points in the business cycle and where the economy is heading in the near term, fell by 0.2% in August to 100.2, following a decline of 0.6% in July. Over the six-month period ending in August, the…
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Existing-home sales fell in August, according to the National Association of REALTORS® (NAR). Three out of four major U.S. regions posted sales declines, while the Midwest registered no change. Year-over-year, sales slipped in three regions but remained stable in the Northeast. Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—descended 2.5% from…
The post Existing-Home Sales Down; Fed Rate Cut Likely to Improve Market appeared first on RISMedia.